Teva said Wednesday it had entered into a licensing and drug-discovery agreement with Heptares.

Under the terms of the agreement, Heptares will receive an upfront payment of $10 million, research funding, and is eligible to receive additional research, development and commercialization milestone payments of up to $400 million. In addition, Heptares will be eligible to receive royalties on net sales of products resulting from the alliance.

Michael Hayden, MD, PhD, President of Global R&D and Chief Scientific Officer at Teva, said that CGRP antagonism was a good opportunity to treat migraine.